Odyssey Marine Applauds U.S. Government Recognition of Phosphate as a Critical Mineral, Strengthening Strategic Resource Initiatives
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), a U.S.-based leader in ocean exploration and marine resource development, commends the U.S. Government for its formal decision to include phosphate on the nation’s Critical Minerals List, as defined by the U.S. Geological Survey (USGS). This recognition underscores phosphate’s essential role in U.S. agriculture, manufacturing, and national security while reinforcing Odyssey’s strategic commitment to developing sustainable domestic phosphate resources through responsible ocean mineral exploration.
Federal Recognition Reinforces Strategic Importance of Phosphate
The addition of phosphate to the Critical Minerals List reflects a growing awareness of the mineral’s importance to the U.S. economy and its vital role in food security, defense technologies, and industrial manufacturing. By designating phosphate as critical, the U.S. Government aims to strengthen national resource security, reduce dependency on imports, and promote domestic production of key materials necessary for both civilian and strategic applications.
“This federal recognition of phosphate as critical for U.S. manufacturing, agriculture, and national security underscores our long-held belief in the strategic importance of this resource,” said Mark Gordon, Chairman and CEO of Odyssey Marine Exploration. “We are proud to see years of advocacy by industry experts—including our colleague Tim Cotton, CEO of Novaphos—come to fruition. Their leadership, alongside other industry voices, played a pivotal role in advancing phosphate’s inclusion on this list.”
Gordon emphasized that Odyssey’s ongoing initiatives align closely with U.S. national priorities to strengthen domestic supply chains, advance ocean-based mineral development, and promote responsible exploration guided by science and sustainability.
Securing Sustainable Phosphate Supply Chains
Phosphate is an essential component of agricultural fertilizers, industrial chemicals, and battery technologies, yet the U.S. remains heavily reliant on foreign sources. According to the USGS, a significant portion of phosphate used domestically is imported, making the nation vulnerable to supply chain disruptions. The Critical Mineral designation reflects an urgent need to develop secure, sustainable, and environmentally responsible sources of phosphate to ensure resilience in food production, clean energy, and advanced manufacturing.
Odyssey Marine Exploration’s current projects directly address this challenge. The company is advancing multiple initiatives designed to diversify the global phosphate supply while applying its proprietary Global Prospectivity Analysis (GPA)—a data-driven system that identifies high-potential resource areas within favorable legal and environmental jurisdictions.
Building a Diversified Project Portfolio
Odyssey’s strategic focus extends beyond a single mineral or region. The company is developing a diversified portfolio of ocean mineral projects that contribute to global priorities such as food security, clean energy transition, and resource independence.
Among its key initiatives are two active projects prospective for phosphate resources. These efforts reflect Odyssey’s philosophy of integrating cutting-edge technology, marine science, and transparent environmental standards to responsibly explore and develop seabed minerals that can meet future global demand.
PHOSAGMEX Joint Venture: A North American Fertilizer Supply Chain
A cornerstone of Odyssey’s phosphate strategy is PHOSAGMEX, a joint venture formed with Capital Latinoamericano (“CapLat”), aimed at creating a North American fertilizer supply chain. The initiative is designed to enhance food security, support sustainable agricultural practices, and reduce reliance on imported fertilizers.
Through PHOSAGMEX, Odyssey and CapLat intend to establish a vertically integrated production and distribution system capable of providing North American farmers with reliable, domestically sourced phosphate-based fertilizers. This initiative complements U.S. policy goals by strengthening regional self-sufficiency in agricultural inputs while minimizing environmental impact through advanced processing and circular resource recovery.
Advancing Domestic Exploration in U.S. Waters
Odyssey recently achieved a significant milestone by submitting an Unsolicited Request for Lease Sale to the Bureau of Ocean Energy Management (BOEM). The request pertains to an area within the U.S. Outer Continental Shelf (OCS) off the Mid-Atlantic coast, which is believed to be highly prospective for phosphate and other critical minerals, including titanium, zirconium, and rare earth elements.
These minerals are vital to multiple sectors—ranging from defense systems and aerospace components to clean energy technologies such as wind turbines and electric vehicles. By pursuing responsible exploration within U.S. territorial waters, Odyssey aims to contribute to a secure and diversified domestic supply of the materials essential for the nation’s industrial and energy future.
Responsible Ocean Resource Development
Odyssey Marine Exploration is widely recognized for its science-led, sustainability-focused approach to ocean mineral exploration. The company’s projects are designed to meet or exceed international environmental standards, integrating best practices from marine biology, geology, and ecological monitoring.
Odyssey’s exploration strategy balances technological innovation with environmental stewardship, ensuring that ocean resource development proceeds in a transparent, data-driven, and ecologically responsible manner. This commitment positions Odyssey as a leader in advancing a modern, ethical framework for marine mineral development that aligns with U.S. and global sustainability goals.
Partner Spotlight: Novaphos Inc.
A key contributor to the advancement of sustainable phosphate technologies is Novaphos Inc., a U.S.-based company transforming the global phosphate industry. Novaphos has developed proprietary, patented processes that enable the production of high-quality phosphoric acid from low-grade phosphate rock and even mine tailings, significantly reducing waste and environmental impact.
Unlike traditional phosphate production methods, which generate large volumes of phosphogypsum, Novaphos’ technologies produce a useful calcium silicate construction aggregate as a byproduct—virtually eliminating phosphogypsum waste. This innovation not only improves environmental outcomes but also enhances the economic efficiency and scalability of phosphate production.
Novaphos’ phosphogypsum reprocessing technology further allows existing producers to recover and reuse sulfur from this problematic waste stream, converting an environmental liability into a valuable industrial resource. The resulting phosphoric acid can be used across industries—from agriculture to lithium iron phosphate (LFP) battery cathodes—supporting the growing clean energy economy.
Novaphos is revolutionizing phosphate production with low-waste, low-cost, and highly scalable technologies,” added Gordon. “Their commitment to sustainable innovation perfectly aligns with Odyssey’s mission to responsibly advance critical mineral development while protecting marine ecosystems.
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